In just 2 month, IRWD dropped from above $13 to below the PT of $9.5 put out by Goldman Sachs. Look, I'm not saying IRWD is a superb company, but not a single piece of major bad news. Majority of stock owned by institution. I guest the low daily trading volume makes it easy to short. I am disgusted by the action of Goldman Sachs to short this stock just to prove that they are right.
Typical short pattern today on your chart. Brought you down early, caped you during the day on light volume, then threw shares at the close to keep it down and sap confidence for tomorrow morning. Your company is undervalued right now. By the way, Linzmess is a SCMP troll. Just ignore him
Look at what is happening to SGYP. These traders have realized the market cannot sustain a 3rd chloride channel activator. SGYP is in the toilet because of this, SGYP is the reason that IRWD stock is taking a HUGE hit lately. The market potentiol has been inflated for both these stocks for years and they are now being corrected in the market, that's what the shorts know.
actually SGYP deserves to sell for far less. Their drug is less potent (3mg dose versus 256ug dose), it is going to suffer from other issues like cross-reactivity with natural products (related to the SGYP drug) whereas Lizness is more stable, with less sequence homology to the naturally occuring peptides in the gut. What is hurting this stock (besides the obvious short play) is that revenue reality versus expectaiton pre-launch is always an issue with biotechs. The DNDN disaster is haunting many companies, related or not.